Credit Suisse Group Increases UWM (NYSE:UWMC) Price Target to $4.00

UWM (NYSE:UWMC – Get Rating) had its price target lifted by investment analysts at Credit Suisse Group from $3.50 to $4.00 in a report issued on Friday, The Fly reports. Credit Suisse Group’s price target suggests a potential downside of 18.70% from the stock’s current price.

A number of other equities analysts have also recently issued reports on UWMC. JMP Securities raised their target price on UWM from $5.50 to $6.50 in a report on Friday, April 28th. SpectralCast reaffirmed a “maintains” rating on shares of UWM in a research report on Friday, April 28th. The Goldman Sachs Group raised their price target on UWM from $3.30 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday, March 2nd. Barclays raised their price target on UWM from $3.50 to $4.00 in a research report on Thursday. Finally, Keefe, Bruyette & Woods raised UWM from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $3.50 to $4.00 in a research report on Thursday, March 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.31.

UWM Stock Up 1.4 %

UWMC opened at $4.92 on Friday. UWM has a 1-year low of $2.84 and a 1-year high of $6.35. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $458.06 million, a price-to-earnings ratio of 12.00 and a beta of 1.46. The business has a 50 day moving average of $5.13 and a 200-day moving average of $4.45.

UWM (NYSE:UWMC – Get Rating) last released its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.11). The company had revenue of $161.27 million for the quarter, compared to analyst estimates of $431.17 million. UWM had a return on equity of 23.97% and a net margin of 1.76%. As a group, sell-side analysts anticipate that UWM will post 0.27 earnings per share for the current year.

Institutional Trading of UWM

Hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. raised its holdings in UWM by 22.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,309 shares of the company’s stock worth $93,000 after purchasing an additional 3,695 shares during the period. Swiss National Bank lifted its stake in UWM by 6.9% in the first quarter. Swiss National Bank now owns 225,500 shares of the company’s stock worth $1,022,000 after purchasing an additional 14,600 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in UWM by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 789,891 shares of the company’s stock worth $3,579,000 after purchasing an additional 19,173 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in shares of UWM by 46.8% during the first quarter. Cetera Advisor Networks LLC now owns 74,541 shares of the company’s stock valued at $338,000 after acquiring an additional 23,779 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of UWM by 28.1% during the first quarter. Rhumbline Advisers now owns 80,937 shares of the company’s stock valued at $367,000 after acquiring an additional 17,761 shares in the last quarter. 37.73% of the stock is owned by institutional investors.

About UWM

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UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.